Silver
Government restricts silver bar imports to curb forex outflow
Reported by AI Image generated by AI
The central government on Saturday moved silver bars of 99.9 percent purity to the restricted import category. The step aims to conserve foreign exchange amid the West Asia crisis.
Silver and gold prices rose on Wednesday following the Federal Reserve's meeting and other central bank announcements. The uptick came as oil prices and the US dollar weakened. Metals gained traction amid broader strength in risk assets.
Reported by AI
Geopolitical tensions have escalated following Israel's pre-emptive strike on Iran, driving demand for safe-haven assets. Gold and silver futures are anticipated to experience a gap-up opening on Monday. This development presents upside opportunities for bullion traders.